Events, recipes & behind the scenes gossip from the Showground

Back to blog

Filter News

Larger businesses more optimistic about the future compared to smaller businesses 18 May

  • 67% of businesses with more than £5M turnover are projecting increased income.
  • 46% of businesses with less than £250k turnover are expecting reduced income over the next 12 months.

Latest research from Forrester Boyd has found that over the coming 12 months 67% of larger businesses – those with a turnover of more than £5M - are projecting increases in their income. Conversely smaller businesses with a turnover less than £250K are expecting reduced income whilst those with a turnover in excess of £1M - are also projecting increased income.

There are some notable differences in outlook by business structure, most notably for those in the charities / non-profit sector, projecting a much larger reduction in income in the coming 12-months.

The research, which was carried out across the UK in conjunction with the UK200Group, of which we are a member, revealed that smaller businesses have been hit more significantly than larger businesses. As well as income projections, smaller businesses are also less likely to be increasing their headcount than larger businesses.

The survey does reveal some more positive outlooks. Respondents were asked their top 3 priorities for their business over the next 12 months, the top 3 are:

  • Looking after existing clients
  • Finding new clients
  • Growth

When asked the same question 6 months ago, businesses were more concerned with survival than growth.

Paul Tofton, partner at Forrester Boyd, commented; “These findings, somewhat unsurprisingly, suggests that larger businesses are more insulated from the negative effects of the pandemic. Smaller firms, with less resources and less of a ‘safety net’, are feeling the effects more severely. It is encouraging to see that 64% of businesses have reviewed their cashflow – a vital step to take at all times but even more so in these turbulent times. A concern is the low number of businesses that are undertaking customer surveys. Keeping close to your customers has never been more important.”

When looking at the regional variations from the data, the Midlands and the North of the UK are reporting less reduction of headcount by some considerable margins. In both areas only 5% of respondents reported a reduction in headcount over the next 12 months whilst respondents in the South are reporting a 21% reduction.

More from this category

Back to blog
We're getting ready to welcome you back
We're getting ready to welcome you back

It has now been announced that indoor events in conference centres will be permitted to take place from 1st October.

23 Jul
2016 Lincolnshire Rural Charities’ Dinner aims for £40,000 target
2016 Lincolnshire Rural Charities’ Dinner aims for £40,000 target

The second Lincolnshire Rural Charities Dinner will be held on Thursday 7 April at The Epic Centre, Lincolnshire Showground.

21 Mar
Lincolnshire Agricultural Society Award 19/20
Lincolnshire Agricultural Society Award 19/20

The Lincolnshire Agricultural Society wish to recognise excellence in science and technology, the environment, land and business management.

08 Aug
Meet the sponsor: Western Power Distribution
Meet the sponsor: Western Power Distribution

With Countryside Lincs just around the corner, we’ve caught up with one of returning sponsors and keen supporters of the event, Western Power Distribution, to find out more about them and what to look out for when visiting their stand at the event.

29 Mar
Get ready for the future of farming with free training
Get ready for the future of farming with free training

Bishop Burton College and Riseholme College want to help you get ready for the future of farming

02 Dec
Sponsorship line-up expands for Charities Dinner
Sponsorship line-up expands for Charities Dinner

A fourth main dinner sponsor has been unveiled for this year’s Lincolnshire Rural Charities Dinner.

05 Feb
Coronavirus statement
Coronavirus statement

We're monitoring the situation and advice closely and carefully

05 Mar
The show must go on: Lincolnshire Show 2020 goes digital!
The show must go on: Lincolnshire Show 2020 goes digital!

Organisers of the Lincolnshire Show have announced this year’s show will be hosted online, showcasing the usual much-loved features, attractions and exhibitors on a virtual platform.

23 May

Get the latest from The Showground